Specialty Program Group, a specialty insurance brokerage, has acquired ESP Insurance Brokerage, a national insurance broker and program administrator for the sports, events and promotion marketing and entertainment industries.
ESP offers US-wide coverage solutions, including athletic insurance for teams and leagues, tournaments, insurance for entertainment, leisure and sports facilities, event liability and cancellation, prize indemnity, weather insurance, liquor liability and special event liability.
ESP has grown steadily in the sports and entertainment market since its formation five years ago. In 2021, over 850,000 youth participants were covered by ESP and the firm had over $1.5B in insured limits covering special events of all types.
SPG President & CEO, Christopher Treanor, said: “ESP is on track to become a leading provider of coverage for the sports and entertainment industry.”
“They’re a nice complement to our portfolio of specialty companies and fit with our model of acquiring companies with niche expertise and a focus on customer service, including offering online services that make it faster and easier to get insurance coverage.”
Chris Price, President of ESP Insurance Brokerage and SHEL Risk Purchasing Group, said: “Simply stated we are here to build a winner for SPG. The team at ESP is beyond excited to join SPG and continue to scale both our product offerings, our service team and technological capabilities to clients.”
“We weren’t looking to be acquired but in talking with Christopher Treanor and the SPG team they had a vision and a plan for the operation that made it impossible for us not to be part of the family on the go forward.”
